Terms and Expressions BAREBOAT CHARTER Charter party where the charterer hires a ship without crew and the charterer takes responsibility for the ship maintenance, crewing and insurance as though the vessel was owned by the charterer BREAKBULK Dry, loose cargo BULK CARRIER Ship designed to carry dry, loose cargoes in bulk BUNKERS A ships fuel CAPESIZE BULK CARRIER Bulk carrier between 100 000 and 180 000 dwt CHARTER Document evidencing a contract between shipowner and charterer or cargo owner and the shipowner and disponent owner CHARTERER The hirer of a vessel from the owner either for a period of time or a voyage CHARTER PARTY Conditions under which a charterer hires a vessel CHEMICAL TANKERS A tanker, usually not larger than 40 000 dwt, designed to carry numerous bulk liquid chemical products, often in stainless steel tanks, in isolated compartments (also termed “parcels”) CONTAINERSHIP Ship designed to carry containerised cargo DEADWEIGHT or DWT The greatest weight of cargo, stores and all other consumables on the ship that a ship can carry expressed in metric tonnes HANDYSIZE BULK CARRIER Bulk carrier between 10 000 and 40 000 dwt HANDYMAX BULK CARRIER Bulk carrier between 40 000 and 60 000 dwt LINER SHIPPING OPERATIONS Operators who trade ships according to a schedule between specified ports OFFHIRE When a ship is temporarily out of operation in accordance with the terms of the relevant charter party with a loss of agreed hire as a result (downtime) OPERATOR An operator who trades in ships and cargo PANAMAX BULK CARRIER Bulk carrier with a maximum beam of 32.2 metres and of between 60 000 and 100 000 dwt PRODUCTS TANKER A tanker designed to carry refined petroleum products in bulk in multiple tanks SHIPPING POOL/JOINT SERVICES AGREEMENT An organised group of ship owners and/or charterers where there is a pooling of resources for the purpose of flexible and commercial operation of ships TECHNICAL MANAGEMENT Management of the marine operations maintenance, crewing, storing and insurance of the ship TIME CHARTER Charter party where the charterer hires a ship which is crewed, maintained and ready for operation for an agreed time period TEU (TWENTY FOOT EQUIVALENT UNIT) The standard length of a container and the measurement used to determine the container carrying capacity of a ship